International Business DEC 2024

Description

International Business

December 2024 Examination

 

 

Q1. Atmanirbhar Bharat Abhiyaan or self-reliant India campaign is the vision of new India. In your view is it positive for nations to produce locally and avoid globalization? (10 Marks)

Ans 1.

Introduction

Atmanirbhar Bharat Abhiyaan, or the self-reliant India campaign, represents India’s strategic shift towards economic self-sufficiency while balancing its role in the global economy. Launched in response to the COVID-19 pandemic, the initiative aims to reduce dependency on imports, promote local manufacturing, and strengthen India’s resilience against external shocks. It emphasizes producing goods domestically, creating jobs, and fostering local industries, ultimately enabling India to reduce its reliance on global supply chains. While globalization has provided many countries, including India, access to international markets and technologies, the focus on self-reliance aims to build a sustainable economy that can withstand global disruptions. The question of whether such a shift is beneficial extends beyond India and touches on the broader debate between the advantages of economic interdependence and the benefits of

 

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Q2. Your company is in manufacturing cosmetics that are based herbal extracts, and is keen on expanding the business globally. Discuss the challenges of marketing your product globally and suggest measures to overcome them? (10 Marks)

Ans 2.

Introduction

Expanding a business globally presents unique opportunities and challenges, especially for a company manufacturing herbal-extract-based cosmetics. With growing consumer demand for natural and sustainable products, such a product line has significant potential in international markets. However, the cosmetic industry is highly competitive and influenced by regional preferences, regulatory standards, and varying market maturity levels. For a herbal-based product, additional factors like cultural perceptions of herbal remedies, local sourcing requirements, and sustainability concerns play crucial roles in consumer acceptance. Entering diverse markets requires adapting marketing strategies to address distinct regulatory frameworks, consumer expectations, and promotional channels. This discussion explores the critical challenges faced in

 

Q3. Read the following case study carefully and then answer the questions that follow: The Indian government may impose taxes and custom duty as high as 50 percent on products that are ordered from Chinese e-tailers to prevent them bypassing customs duty, according to a report Chinese e-commerce platforms ship these goods ordered by Indians by claiming them to be “gifts” as those under Rs 5,000 are not subjected to customs duty. Authorities have seized many such shipments trying to evade customs duty.

Chinese retailers like Club Factory, Ali Express and Shein will be affected the most by this move.

To  reduce  these  illegal  imports,  the  tax  department  is  planning  to  charge  a  mix of integrated goods and services tax (IGST) and customs duty on products ordered from Chinese e-commerce companies and will impose it on buyers at the payment stage, sources said to the paper.

“The government is looking to bring in payment gateways on board on the scheme and when the consumer pays the money, IGST and customs duty will be included in the price,” said one source to the paper

“There cannot be the same rate for different categories such as medicines and the amended higher rates should not violate World Trade Organization guidelines by slapping a flat rate,” said a legal adviser.

Since the government started its crackdown on the imports from Chinese e-tailers, the numbers have gone down. According to a Bloomberg report taken from a customs document, imports of shipment worth below Rs 1,00,000 has fallen sharply by 55 percent in Mumbai.

1. What in your opinion should the Government of India take measures to stop the malpractice by Chinese firms. (5 Marks)

Ans 3a.

Introduction
The growing influx of goods from Chinese e-commerce platforms into India has raised significant concerns due to reported instances of tax evasion and customs violations. To protect the Indian economy and ensure fair trade practices, the Government of India is looking to tighten its regulatory framework around these imports. This issue has been driven by Chinese retailers exploiting the “gifts” loophole, leading to a decline in tax revenues and potential harm to domestic producers. Measures addressing these loopholes and enforcing compliance will be essential

1. Explain antidumping duty and how can the Government apply these duties without violating the WTO rules, of Free Trade? (5 Marks)

Ans 3b.

Introduction
Antidumping duties are tariffs imposed by a country to protect its domestic industry from unfair competition. When a foreign company sells goods in another country at a price lower than its home market or below production costs, it is considered dumping. This practice can harm local industries, leading governments to impose antidumping duties to safeguard domestic businesses. However, applying these duties must align with World Trade Organization (WTO) rules to